What's a great retirement-savings vehicle?

If you’re somewhat familiar with investing, you may know that the Roth IRA
is a great retirement-savings vehicle. But are you aware that some of its
benefits can also pay off for the next generation of your family?
To understand why this is so, it’s necessary to be familiar with a Roth
IRA’s features. For starters, when you contribute to a Roth IRA, any growth
to your earnings is distributed tax free, provided you don’t start taking
withdrawals until you’re 59½ and you’ve had your account at least five
years. The amounts you contributed aren’t taxed when withdrawn because
you’ve already paid taxes on the money you put in. And the potential for
tax-free distribution of earnings can continue even when your beneficiaries
inherit your Roth IRA, though you’ll need to consult with your tax advisor
on this issue.
A Roth IRA also offers other features that can help you build resources for
retirement while possibly helping your surviving family members. For one
thing, you can contribute to your Roth IRA for as long as you have some
earned income, up to the contribution limits, and as long as you meet
certain income limitations. Even if you’ve officially “retired,” you might
do some consulting or part-time work. So you could put some of your
earnings into your Roth IRA. This ability to keep funding your Roth IRA can
give you more flexibility in managing your retirement income — and,
depending on how you do manage that income and what your other objectives
may be, you may also end up with more money that could be left to your
beneficiaries.
Also, unlike a traditional IRA or a 401(k), a Roth IRA does not require you
to start taking minimum distributions at age 70½. In fact, you are never
required to withdraw money from your Roth IRA. And by leaving your account
intact for as long as possible, you’ll potentially have more money
available for a variety of options – one of which may involve leaving sums
to your beneficiaries. Your non-spouse beneficiaries must take annual
required minimum distributions, but they have the option to take the
distributions over their lifetime.
Keep in mind, though, that your Roth IRA is part of your estate for
purposes of federal estate taxes. In 2016, your estate would be subject to
these taxes if it were worth more than $5.45 million (or less, if you made
certain gifts). This estate tax exemption typically is adjusted each year
for inflation. Some states also have estate taxes that apply at amounts
less than the federal amount. In any case, if you have a sizable estate,
you should consult with your tax and legal advisors.
When you invest in a Roth IRA, your goal, first and foremost, is to help
fund your retirement. In fact, basically all your decisions regarding your
Roth IRA – how much to contribute, where to invest the money and when to
begin taking withdrawals – should be based on your own retirement goals.
However, as a side benefit to investing in a Roth IRA, you may find that
you could help out the next generation of your family.
*This article was written by Edward Jones for use by your local Edward
Jones Financial Advisor.*
*Edward Jones, its employees and financial advisors cannot provide tax or
legal advice. You should consult your attorney or qualified tax advisor
regarding your situation.*
[image: Inline image 2]
[image: Inline image 3]
Jim Glover, 4801 E 2nd St, Ste 109 Triangle Plaza in Casper, (307) 265-2624
Ginny Moss, 602 E Collins in Casper, (307) 237-0051
Paul W. Baxter, 4060 S Poplar in Casper, (307) 234-6209
Levi Gundlach, 3831 Denis Dr 300 in Casper, (307) 232-8278
Laura Burback, 130 N Ash St Ste 100 in Casper, (307) 235-7909
Lonnie Bull, 210 S Wolcott in Casper, (307) 232-2158
[image: Inline image 3]
To review what this may mean to you, reach out to Laura A Burback, Paul
Baxter, Lonnie Bull, Jim Glover, Ginny Moss, or Levi Gundlach for a
no-risk/no-obligation discussion about how Edward Jones can help you
achieve your financial goals.
#oilcity #news #sponsored #edwardjonescasper

What's a great retirement-savings vehicle?

If you’re somewhat familiar with investing, you may know that the Roth IRA
is a great retirement-savings vehicle. But are you aware that some of its
benefits can also pay off for the next generation of your family?
To understand why this is so, it’s necessary to be familiar with a Roth
IRA’s features. For starters, when you contribute to a Roth IRA, any growth
to your earnings is distributed tax free, provided you don’t start taking
withdrawals until you’re 59½ and you’ve had your account at least five
years. The amounts you contributed aren’t taxed when withdrawn because
you’ve already paid taxes on the money you put in. And the potential for
tax-free distribution of earnings can continue even when your beneficiaries
inherit your Roth IRA, though you’ll need to consult with your tax advisor
on this issue.
A Roth IRA also offers other features that can help you build resources for
retirement while possibly helping your surviving family members. For one
thing, you can contribute to your Roth IRA for as long as you have some
earned income, up to the contribution limits, and as long as you meet
certain income limitations. Even if you’ve officially “retired,” you might
do some consulting or part-time work. So you could put some of your
earnings into your Roth IRA. This ability to keep funding your Roth IRA can
give you more flexibility in managing your retirement income — and,
depending on how you do manage that income and what your other objectives
may be, you may also end up with more money that could be left to your
beneficiaries.
Also, unlike a traditional IRA or a 401(k), a Roth IRA does not require you
to start taking minimum distributions at age 70½. In fact, you are never
required to withdraw money from your Roth IRA. And by leaving your account
intact for as long as possible, you’ll potentially have more money
available for a variety of options – one of which may involve leaving sums
to your beneficiaries. Your non-spouse beneficiaries must take annual
required minimum distributions, but they have the option to take the
distributions over their lifetime.
Keep in mind, though, that your Roth IRA is part of your estate for
purposes of federal estate taxes. In 2016, your estate would be subject to
these taxes if it were worth more than $5.45 million (or less, if you made
certain gifts). This estate tax exemption typically is adjusted each year
for inflation. Some states also have estate taxes that apply at amounts
less than the federal amount. In any case, if you have a sizable estate,
you should consult with your tax and legal advisors.
When you invest in a Roth IRA, your goal, first and foremost, is to help
fund your retirement. In fact, basically all your decisions regarding your
Roth IRA – how much to contribute, where to invest the money and when to
begin taking withdrawals – should be based on your own retirement goals.
However, as a side benefit to investing in a Roth IRA, you may find that
you could help out the next generation of your family.
*This article was written by Edward Jones for use by your local Edward
Jones Financial Advisor.*
*Edward Jones, its employees and financial advisors cannot provide tax or
legal advice. You should consult your attorney or qualified tax advisor
regarding your situation.*
[image: Inline image 2]
[image: Inline image 3]
Jim Glover, 4801 E 2nd St, Ste 109 Triangle Plaza in Casper, (307) 265-2624
Ginny Moss, 602 E Collins in Casper, (307) 237-0051
Paul W. Baxter, 4060 S Poplar in Casper, (307) 234-6209
Levi Gundlach, 3831 Denis Dr 300 in Casper, (307) 232-8278
Laura Burback, 130 N Ash St Ste 100 in Casper, (307) 235-7909
Lonnie Bull, 210 S Wolcott in Casper, (307) 232-2158
[image: Inline image 3]
To review what this may mean to you, reach out to Laura A Burback, Paul
Baxter, Lonnie Bull, Jim Glover, Ginny Moss, or Levi Gundlach for a
no-risk/no-obligation discussion about how Edward Jones can help you
achieve your financial goals.
#oilcity #news #sponsored #edwardjonescasper